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Madisons to boost war chest and change name

02 June 2004
Madisons to boost war chest and change name

Madisons Coffee, the former coffee bar operator now concentrating on its Richoux restaurant chain, plans to change its name to Gourmet Holdings and issue one million new shares to fund acquisitions.

The proposals will need the go-ahead from shareholders at an extraordinary general meeting to be held on 21 June.

Madisons is looking for acquisitions in the restaurant sector.

In March this year it appointed Andrew Guy, former head of City Centre Restaurants, to look for companies to buy.

Madisions said it was now "in negotiations with a possible acquisition target", believed to be a chain of branded pub-restaurants.

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